Simcoe County District School Board Insurance Trust Wind Up Important Update

Publication Date

Demutualization Proceeds

May 15, 2015

Cheques representing OPSEU member’s entitlements to the demutualization proceeds under the Simcoe County District School Board Insurance Trust Wind Up are being mailed out today.

Eligible members who completed and returned their application for demutualization funds by the deadline should be receiving their payment by the end of the month. A tax slip will be enclosed with your payment and should be included in your 2015 tax return.

As a reminder, in order to be eligible for ANY payment of demutualization proceeds you have to have been participating in the Insurance Trust for Simcoe County District School Board through the period between January 1988 and December 1997. This includes all OPSEU Local 330 members who contributed to the Trust for all or part of the period regardless of their status following this period. It includes individuals who retired during or after this period, individuals whose employment terminated during or after this period and individuals who may now be deceased.

If you did not complete and return your application to NPT+Ricepoint by the deadline, you will not receive any funds.

If you are eligible for demutualization proceeds and do not receive your payment by the end of May, contact Kim Macpherson, Benefits Counsellor at OPSEU who can look into details of your payment. Kim can be reached at 1-800-268-7376 x5564 or by email at kmacpherson@opseu.org.

May, 2014

OPSEU members who are entitled to a portion of demutualization proceeds were mailed their notification by NPT+Ricepoint on January 16, 2014. The notification included the estimated payment amount of their initial entitlement, and detailed the steps they need to take to secure their entitlement. This included completing a court approved “Confirmation and Release Form” which has been created specifically for this purpose and supplying a copy of an approved form of identification (e.g., birth certificate, drivers licence, passport or other government issued identification) as well as a social insurance number.

It is important that you complete the release form and return it without delay to ensure you meet the May 16, 2014 deadline!

If you think that you are eligible for demutualization proceeds and did not receive your entitlement package contact Kim Macpherson, Benefits Counsellor at OPSEU who can check on the status of your package. Kim can be reached at 1-800-268-7376 x5564 or by email at kmacpherson@opseu.org.

As a reminder, in order to be eligible for ANY payment of demutualization proceeds you have to have been participating in the Insurance Trust for Simcoe County District School Board through the period between January 1988 and December 1997. This includes all OPSEU Local 330 members who contributed to the Trust for all or part of the period regardless of their status following this period. It will include individuals who retired during or after this period, individuals whose employment terminated during or after this period and individuals who may now be deceased.